- A: I've landed on Mayfair that's $400, I don't want to buy it at that price, so we go to auction. I bid $1.
- B: I bid $100
At this point A has to decide whether to keep bidding and risk bidding higher than the price they didn't want to pay anyway, just to stop their opponent getting it, or to hold on to their funds and potentially let their opponent get Mayfair for below list price.
- B: I bid $100
At this point A has to decide whether to keep bidding and risk bidding higher than the price they didn't want to pay anyway, just to stop their opponent getting it, or to hold on to their funds and potentially let their opponent get Mayfair for below list price.